Atlantic Gold (AGB) Receives a Buy from GMP FirstEnergy


Atlantic Gold (AGB), the Consumer Goods sector company was revisited today, and remains undervalued for at least one analyst on the street. Analyst Steven Butler from GMP FirstEnergy remains bullish on the stock and has a C$2.70 price target.

Butler has an average return of 5.3% when recommending Atlantic Gold.

According to TipRanks.com, Butler is ranked #4843 out of 5156 analysts.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Atlantic Gold with a C$2.85 average price target, implying a 60.1% upside from current levels. In a report issued on January 23, Raymond James also maintained a Buy rating on the stock with a C$2.50 price target.

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Based on Atlantic Gold’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$7.97 million. In comparison, last year the company had a GAAP net loss of C$1.15 million.

Atlantic Gold Corp. engages in the acquisition, exploration, and development of mineral properties. It holds interest in the Moose River Consolidated Project, Cochrane Hill Project; and Fifteen Mile Stream Project. The company was founded on July 24, 1986 and is headquartered in Vancouver, Canada.

The company’s shares closed on Tuesday at C$1.78.